Jefferies Group Lowers Ignyta (NASDAQ:RXDX) to Hold

Ignyta (NASDAQ:RXDX) was downgraded by research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, December 28th. They currently have a $27.00 price objective on the biopharmaceutical company’s stock. Jefferies Group’s price objective points to a potential upside of 0.19% from the stock’s previous close.

Several other research firms have also recently weighed in on RXDX. SunTrust Banks cut shares of Ignyta from a “buy” rating to a “hold” rating and raised their price objective for the company from $25.00 to $27.00 in a research report on Tuesday, December 26th. Zacks Investment Research raised shares of Ignyta from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, November 14th. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Ignyta in a report on Wednesday, September 27th. Finally, Ladenburg Thalmann Financial Services raised their target price on shares of Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $26.33.

Shares of Ignyta (NASDAQ RXDX) opened at $26.95 on Thursday. Ignyta has a 52 week low of $4.60 and a 52 week high of $27.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07. The company has a market cap of $1,790.00, a P/E ratio of -9.94 and a beta of 206.07.

Ignyta (NASDAQ:RXDX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.03. research analysts predict that Ignyta will post -2.27 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of RXDX. Vanguard Group Inc. lifted its position in Ignyta by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,228,177 shares of the biopharmaceutical company’s stock valued at $10,562,000 after acquiring an additional 115,212 shares during the period. Dimensional Fund Advisors LP raised its holdings in Ignyta by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 61,114 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 3,946 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Ignyta by 58.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 91,645 shares of the biopharmaceutical company’s stock worth $789,000 after buying an additional 33,900 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Ignyta in the first quarter worth about $133,000. Finally, TD Asset Management Inc. purchased a new position in Ignyta in the second quarter worth about $136,000. 71.51% of the stock is owned by institutional investors.

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Ignyta Company Profile

Ignyta, Inc is a biotechnology company. The Company is focused on precision medicine in oncology. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

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